Natural Gas Market Note | 03.27.2026
Benchmark futures rise back to week-ago levels into April expiration.
Natural gas finished higher across the curve on Friday ahead of the weekend. Today marked the expiration of the April 2026 NYMEX contract, which rolled off the board at $3.095 per MMBtu. This marks a slight increase over the March expiry a month ago and a sharp decline compared to the April 2025 expiration last year. While April ended the week dead flat to last Friday’s close, the Summer 2026 and Winter 2026-27 strips each posted weekly losses.
May 2026 will roll to the front of the curve Monday amid what looks to be an extended stretch of mild temperatures across the country. Some forecasts show temperatures normalizing near the end of the two-week period, but heating demand is moving quickly lower at this point in the season. Expected conditions look conducive to a strong start to net storage injections over the coming weeks.
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